No. of Recommendations: 0
Sell the house for $1M, pay $100K in taxes, and buy a house for $500K...leaves you with a home and $400K to work with.

By the way, this is a major lesson for many folks who live in homes that have significant value. Sell the house, buy a smaller but nice home in a less expensive area, then use the balance to fund your portfolio. It's amazing to me how few people can see beyond the need to stay in their expensive houses and claim at the same time that they can't afford to retire. Of course, the better course is to have invested wisely over the years, and then live in an expensive home and have more than enough in your portfolio to live in comfort forever.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.